Elon Musk Reveals Reasons for Dogecoin Amid Debate Over Web 3.0, Ethereum, and Decentralization

Elon Musk, CEO of Tesla and SpaceX, has explained why Dogecoin (DOGE) is supported as the debate about Web 3.0, Ethereum and decentralization intensifies.

Musk’s explanation came when he and Dogecoin co-founder Billy Markus joined a Twitter thread about Web 3.0 and Ethereum with Jack Dorsey. The former CEO of Twitter was behaved fears this week that Web 3.0 is owned by venture capitalists (VCs).

In a tweet, Markus to write:

“My goal is to create content, make money, and have fun. I was used to starting the company and saw no point in it. Bitcoin only gives power to the nouveau riche. ”

“That’s why I support DOGE,” Musk comment.

On the same subject, Dorsey clear up: “I am not against Ethereum. I am an anti-concentration opponent, VC owner, a single point of failure and the pretext of being driven by corporations. If your goal is anti-institutional (opinion against traditional social, political and economic principles) I assure you that it is not Ethereum. Believe it or not! Just look at the basics. ”

Elon Musk and Dorsey independently raised concerns about Web 3.0 this week.

“I don’t think Web 3.0 is real – it’s more of a marketing keyword than a reality right now. Has anyone seen web 3.0? I can’t see it, “Musk tweeted.

Musk is a huge supporter of the Dogecoin meme cryptocurrency. He’s even known as the dogefather in the crypto community.

He also announced last week that Tesla would accept DOGE for payments. This billionaire views Bitcoin as a store of value and DOGE as the best cryptocurrency for transactions.

In October, Musk revealed yet another reason why he chose to support Dogecoin.

“I speak to a lot of people who have DOGE on the assembly line at Tesla or who build rockets at SpaceX. They’re not Silicon Valley financiers or technologists. That’s why I decided to support Doge – it’s like cryptocurrency for everyone. ”

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